Technology

Bell Announces Pricing of Cash Tender Offer for Debt Securities

Published

2 weeks ago

March 25, 2025

This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled “Caution Concerning Forward-Looking Statements” later in this news release.

MONTRÉAL, March 25, 2025 /CNW/ – Bell Canada (“Bell” or the “Company”) today announced the pricing of its previously announced offer (the “Offer”) to purchase for cash all tendered C$1,130,937,000 principal amount of the 3.50% MTN Debentures Series M-51 due 2050. As indicated in its press release of March 24, 2025, the Company will not accept the 4.05% MTN Debentures Series M-55 due 2051 which were tendered into the separate offer for such debentures.

The Offer

The Offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase dated March 17, 2025 relating to the outstanding debentures listed in the table below (the “Debentures”) (the “Offer to Purchase”). The Debentures are unconditionally guaranteed as to payment of principal, interest and other obligations by BCE Inc. (“BCE”), Bell Canada’s parent company. Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase.

The table below sets out the aggregate principal amount of Debentures accepted for purchase, the Reference Yield and the Total Consideration in respect of the Debentures validly tendered and accepted for purchase pursuant to the Offer for such Debentures.

Title of

Debentures(1)

Principal
Amount

Outstanding

CUSIP / ISIN os(1)

Reference

Security

Bloomberg

Reference

Page

Reference

Yield

Fixed

Spread

(Basis

Points)

Total

Consideration(2)

Principal

Amount

Accepted

3.50% MTN

Debentures

Series M-51

due 2050

C$1,250,000

07813ZCD4 /

CA07813ZCD48

CAN 2 ¾

12/01/55

FIT CAN0-

3.291 %

165

C$792.33

C$1,130,937,000

(1)

No representation is made by the Company as to the correctness or accuracy of the CUSIP number or ISIN listed in this news release or printed on the Debentures. They are provided solely for convenience.

(2)

Per C$1,000 principal amount of Debentures validly tendered, and not validly withdrawn, at or prior to March 24, 2025 (the “Expiration Date”) and accepted for purchase; excludes the Accrued Coupon Payment.

Settlement

Payment of Total Consideration for Debentures accepted for purchase will be made by the Company on the settlement date, which is expected to occur on March 27, 2025 (the “Settlement Date”). In addition to the Total Consideration, Holders whose Debentures are accepted for purchase will receive a cash payment equal to the Accrued Coupon Payment, representing accrued and unpaid interest on such Debentures from and including the immediately preceding interest payment date for such Debentures to, but excluding, the Settlement Date. Holders whose Debentures are accepted for purchase will lose all rights as Holder of the tendered Debentures and interest will cease to accrue on the Settlement Date for all Debentures accepted in the Offer.

Following consummation of the Offer, any Debentures that are purchased in the Offer will be retired and cancelled and no longer remain outstanding. All 4.05% MTN Debentures Series M-55 due 2051 not accepted for purchase by the Company will be returned without cost to the tendering Holders.

Upon completion of the Offer, there will be approximately C$119,063,000 aggregate principal amount of the 3.50% MTN Debentures Series M-51 due 2050 outstanding. The aggregate principal amount outstanding of the 4.05% MTN Debentures Series M-55 due 2051 will remain unchanged at C$550,000,000.

The Company has retained RBC Dominion Securities Inc. (“RBC”), Scotia Capital Inc. (“Scotia”) and TD Securities Inc. (“TD”) to act as lead dealer managers, and BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., Citigroup Global Markets Canada Inc., Wells Fargo Securities Canada, Ltd., Mizuho Securities Canada Inc., SMBC Nikko Securities Canada, Ltd. and Barclays Capital Canada Inc. to act as co-dealer managers (collectively, the “Dealer Managers”) for the Offer. Questions regarding the terms and conditions for the Offer or for copies of the Offer to Purchase should be directed to RBC at 1.877.381.2099 (toll-free) or 1.416.842.6311 (collect), Scotia at 416.863.7438 or TD at 1.866.584.2096 (toll-free) or 416.982.6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offer.

TSX Trust Company is acting as the Tender Agent for the Offer.

If the Company terminates the Offer, it will give prompt notice to the Tender Agent, and all Debentures tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Debentures blocked in CDS will be released.

Offer and Distribution Restrictions

The Offer was made solely pursuant to the Offer to Purchase. This news release does not constitute a solicitation of an offer to buy any securities in the United States. No Offer constitutes an offer or an invitation by, or on behalf of, BCE, the Company or the Dealer Managers (i) to participate in the Offer in the United States; (ii) to, or for the account or benefit of, any “U.S. person” (as such term is defined in Regulation S of the U.S. Securities Act of 1933, as amended); or (iii) to participate in the Offer in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction, and such persons are not eligible to participate in or tender any securities pursuant to the Offer. No action has been or will be taken in the United States or any other jurisdiction that would permit the possession, circulation or distribution of this news release, the Offer to Purchase or any other offering material or advertisements in connection with the Offer to (i) any person in the United States; (ii) any U.S. person; (iii) anyone in any other jurisdiction in which such offer or solicitation is not authorized; or (iv) any person to whom it is unlawful to make such offer or solicitation. Accordingly, neither this news release, the Offer to Purchase nor any other offering material or advertisements in connection with the Offer may be distributed or published, in or from the United States or any such other jurisdiction (except in compliance with any applicable rules or regulations of such other jurisdiction). Tenders will not be accepted from any holder located or resident in the United States.

In any jurisdiction in which the securities laws require the Offer to be made by a licensed broker or dealer, the Offer will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This news release is for informational purposes only. This news release is not an offer to purchase or a solicitation of an offer to sell any Debentures or any other securities of BCE, the Company or any of their subsidiaries.

Caution Concerning Forward-Looking Statements

Certain statements made in this news release are forward-looking statements, including, but not limited to, statements regarding the timing for completion of the Offer and the expected Settlement Date thereof. All such forward-looking statements are made pursuant to the “safe harbour” provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. These statements are not guarantees of future performance or events and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Forward-looking statements are provided herein for the purpose of giving information about the proposed Offers referred to above. Readers are cautioned that such information may not be appropriate for other purposes.

About Bell

Bell is Canada’s largest communications company,1 providing advanced broadband Internet, wireless, TV, media and business communication services. Founded in Montréal in 1880, Bell is wholly owned by BCE. To learn more, please visit Bell.ca or BCE.ca.

Through Bell for Better we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities. This includes the Bell Let’s Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let’s Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.

Based on total revenue and total combined customer connections.

Media Inquiries:
Ellen Murphy
media@bell.ca

Investor Inquiries:
Richard Bengian
richard.bengian@bell.ca

SOURCE Bell Canada (MTL)

Technology

TwelveLabs to Bring Its State-of-the-Art Video AI Models to Amazon Bedrock

Published

3 hours ago

April 6, 2025

Latest collaboration enables developers to leverage TwelveLabs’ video understanding capabilities to create new applications with the security, privacy, and performance of AWS

LAS VEGAS, April 6, 2025 /PRNewswire/ — Amazon Web Services (AWS), an Amazon.com, Inc. company and TwelveLabs, the video understanding company, today announced that TwelveLabs’ state-of-the-art multimodal foundation models, Marengo and Pegasus, will soon be available in Amazon Bedrock. Amazon Bedrock is a fully managed service that offers developers access to high-performing models from leading AI companies through a single API. Seamless access to TwelveLabs’ advanced video understanding capabilities will enable developers and enterprises to transform how they search, analyze, and generate insights from video content, leveraging the security, privacy, and performance of AWS. AWS is the first cloud provider to offer models from TwelveLabs.

“This integration with Amazon Bedrock represents the next phase in our collaboration with AWS, making our video understanding AI more accessible to enterprises worldwide,” added Lee.

“Video contains nearly 80% of the world’s data, yet most of it remains unsearchable and underutilized,” said Jae Lee, Co-founder and CEO of TwelveLabs. “By making our models available through Amazon Bedrock, we’re empowering even more enterprises to bring video understanding to their existing infrastructure. Our technology enables users to search across their entire content library—from videos collected 10 years ago or 10 minutes ago—to find the precise moment they’re looking for in less than a single second, and then interpret and analyze those moments. This opens the door for all kinds of novel uses. Through the collaboration with AWS, we can extend powerful capabilities to customers and accelerate innovation across industries.”

Advanced AI Video Capabilities

Video is commonly regarded as one of the world’s largest unsearchable data sources, yet TwelveLabs’ cutting-edge technology turns it into a trove of accessible information. Whether it’s giving a sports network the ability to instantly pull every instance of a specific play style or commentator reaction or helping a broadcaster identify recurring themes across large volumes of footage, TwelveLabs helps teams turn their video archives into usable, indexable assets, unlocking both operational efficiency and new revenue opportunities.

TwelveLabs overcomes the inherent complexities associated with video understanding to allow customers to search video across all modalities. Specifically, TwelveLabs delivers:

Natural language video search that pinpoints precise content momentsDeep video understanding without requiring pre-defined labelsMultimodal AI processing visual, audio, and text simultaneouslyTemporal intelligence connecting related events across timeEnterprise solutions scaling extensive video libraries into accessible knowledge

“At MLSE, we are defining the future of the sports and entertainment business. Innovation is in our DNA, and we’re leading the charge in shaping what comes next. With powerful tools like Amazon Bedrock and TwelveLabs’ AI models supporting our vision, we’re accelerating our ability to create smarter, more immersive experiences for fans.” said Humza Teherany, Chief Strategy and Innovation Officer at Maple Leaf Sports & Entertainment.”

Unlocking the Power of Video Understanding for AWS Customers

With Marengo and Pegasus available in Amazon Bedrock, AWS customers can use TwelveLabs’ models to build and scale generative AI applications without managing underlying infrastructure. Using Amazon Bedrock, customers gain access to a broad set of capabilities while maintaining complete control over their data, benefiting from enterprise-grade security and utilizing cost control features—all essential for deploying AI responsibly at scale.

TwelveLabs’ fully managed, serverless models in Amazon Bedrock allow developers to:

Create applications that search through videos, classify scenes, summarize content, and extract insights using natural languageBuild sophisticated video understanding features without specialized AI expertiseScale video processing from small collections to massive libraries with consistent performanceDeploy solutions with enterprise-grade security and governance controls

“Video understanding is revolutionizing how industries like media & entertainment, sports, automotive, and education work with and discover content,” said Samira Panah Bakhtiar, General Manager of Media & Entertainment, Games, and Sports at AWS. “Over the last year, I have consistently said that natural language semantic search is a ‘strategic unlock’ for our entertainment customers, as they reexamine their existing intellectual property and breathe new life into it. By bringing TwelveLabs’ advanced models to Amazon Bedrock, we’re helping our customers make sense of any video moment, unlocking the full value of their treasured video assets. Businesses will now be able to easily search, categorize, and extract insights from their vast video libraries, enabling new use cases and better user experiences that were previously impossible without significant technical expertise.”

The integration will benefit multiple industries, from media, entertainment, advertising and beyond. For example:

Film and TV Studios can rapidly manage video workloads from dailies, content repacking, and archive managementSports Leagues and Teams can efficiently create match highlights and create customized fan focused content at scaleNews Agencies and Broadcasters can quickly manage large libraries to find the moments that matterStreaming services can better package and distribute content across platforms and more effectively insert relevant video ads

AWS and TwelveLabs’ integration partner Monks expressed their excitement: “We’ve been putting AI to work across the entire video value chain for IP holders, broadcasters and brands. TwelveLabs in Amazon Bedrock makes it easier to realize opportunities for monetization in broadcast news, entertainment and sports by making it simpler and more secure to build and scale applications with powerful video understanding,” said Lewis Smithingham, EVP Strategic Industries at Monks.

Expanding Collaboration Between AWS and TwelveLabs

This announcement builds on a strong existing relationship between AWS and TwelveLabs and continues the momentum of their Strategic Collaboration Agreement (SCA). TwelveLabs is working with AWS to accelerate the development of its foundation models, deploy its advanced video understanding foundation models across new industries, and enhance its model training capabilities using Amazon SageMaker HyperPod. With the reliable and scalable infrastructure offered by SageMaker HyperPod, TwelveLabs has accelerated model training while reducing training costs.

“This integration with Amazon Bedrock represents the next phase in our collaboration with AWS, making our video understanding AI more accessible to enterprises worldwide,” added Lee.

To learn about TwelveLabs’ industry leading models, please explore twelvelabs.io, Marengo 2.7 and Pegasus 1.2. Find out more about TwelveLabs models in Amazon Bedrock here.

About TwelveLabs

TwelveLabs uses multimodal foundation models to bring human-like understanding to video data. The company’s foundation models map natural language to what’s happening inside a video, including actions, objects, and background sounds, allowing developers to create applications that can search through videos, classify scenes, summarize, and extract insights with unprecedented accuracy. Headquartered in the US, TwelveLabs serves customers across media, entertainment, sports, advertising, and government. For more information, visit www.twelvelabs.io

Media Contact

Amber Moore, Moore Communications, 1 5039439381, amber@moorecom2.com, Moore Communications

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SOURCE TwelveLabs

Technology

Sungrow Leads the Dialogue on Spain’s Path to a Sustainable Energy Future

Published

4 hours ago

April 6, 2025

Sungrow’s exclusive conference in Madrid brought together industry leaders to highlight how technology, dedicated professionals and collaboration between all stakeholders can support Spain to further accelerate towards a sustainable future.

MADRID, April 6, 2025 /PRNewswire/ — As the global leading PV inverter and energy storage system provider, Sungrow successfully hosted an exclusive conference in Madrid on April 2, bringing together industry experts and business leaders to discuss the opportunities for Spain to achieve its ambitious climate and energy targets. The event provided a vital platform to explore the country’s renewable energy opportunities, emphasizing the crucial role of the Commercial & Industrial (C&I) sector and the growing importance of hybrid solutions combining photovoltaic (PV) systems with Energy Storage Systems (ESS). At the same time, as mobility enters a new era with the electrification of vehicles, EV Charging become an increasingly critical topic on the road towards a sustainable future.

Spain’s Renewable Energy Vision and the Role of C&I Projects
Spain has set an ambitious target of reaching 81% renewable electricity generation by 2030, as outlined in its National Energy and Climate Plan (PNIEC)1. With solar energy playing a pivotal role in this transition, the integration of battery storage is becoming increasingly essential to ensure grid stability, maximize self-consumption, and enhance energy independence.

During the conference, experts highlighted the potential of the C&I sector to accelerate the deployment of clean energy solutions. Businesses are increasingly recognizing the economic and environmental advantages of integrating solar power with storage, reducing dependency on fossil fuels and fluctuating energy prices. Sungrow reaffirmed its commitment to supporting this sector with cutting-edge technology, providing tailored solutions that enhance efficiency, reliability, and long-term savings. As its latest ESS for C&I projects, the PowerStack 200CS, clearly showcases, energy storage can lead to significant ecological and financial benefits, as long as cutting-edge technology, high efficiency, and undisputed safety are combined with a strong team of experts supporting all the phases of such a complex operation, from the design phase and delivery phase, up to the Operation and Maintenance (O&M) of the project.

Hybrid Solutions: The Key to a Resilient Energy Future
A major theme of the conference was the critical role of hybrid systems in achieving Spain’s energy transition. Combining PV with ESS allows businesses and energy producers to store excess solar energy, ensuring uninterrupted supply and mitigating grid congestion challenges. This approach not only optimizes energy usage but also supports Spain’s goal of a more decentralized and resilient energy network. Sungrow showcased its comprehensive portfolio of solutions designed to empower businesses and energy developers to implement hybrid energy projects seamlessly and great flexibility. These include PV inverters like the SG350HX-20 string inverter, the SHT range of hybrid inverters and a range of storage solutions, characterised also for the ease of expandability. At the same time, as part of a fully sustainable ecosystem, Sungrow offers a complete range of AC and DC, EV Chargers, for private, semi-public and public use, as the latest IDC480E, an ultra-fast charger capable of charging up to 8 vehicles at once, making it an ideal solution for fleet operators.

A Commitment to Innovation, Public Dialogue and Sustainability
Sungrow’s conference in Madrid reinforced the company’s proactive role in shaping the future of renewable energy in Spain. By fostering discussions between industry stakeholders and providing world-class solutions, Sungrow continues to drive the adoption of clean energy technologies that align with the nation’s sustainability goals. The panel discussion “The Next Step of Renewables” emphasized this focus on public dialogue as a means to fully utilize the opportunities of a sustainable future.

“As Spain advances toward its renewable energy objectives, collaboration and innovation will be key drivers of success,” said Mr. Javier Blanco, Country Manager at Sungrow Iberica. “At Sungrow, we are proud to contribute to this transition by equipping businesses with state-of-the-art PV and storage solutions and the utmost levels of service and support that pave the way for a cleaner, more sustainable future.”

With Spain’s renewable energy landscape evolving rapidly, Sungrow remains committed to empowering businesses and energy producers with the tools they need to thrive in the green transition. Sungrow has established a strong team of more than 100 experts in Spain and Portugal. Moreover, with two offices, in Pamplona and Madrid and the impressive new Technological Center for Training and Innovation in Pamplona that covers a total area of 10,000 square meters, designed to serve as a hub for training, innovation, and service excellence, Sungrow confirms its commitment on supporting the energy transition in Spain and South Europe. The company will continue to invest in advanced technologies, local partnerships, and knowledge-sharing initiatives to accelerate Spain’s clean energy revolution.

https://www.enerdata.net/publications/daily-energy-news/spain-target-2030-power-renewable.html

About Sungrow
Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of December 2024, Sungrow has installed 740 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the world’s most bankable energy storage company (BloombergNEF). Its innovations power clean energy projects in over 180 countries, supported by a network of 520 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com.

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View original content:https://www.prnewswire.co.uk/news-releases/sungrow-leads-the-dialogue-on-spains-path-to-a-sustainable-energy-future-302421505.html

Technology

City of Corona Leverages AI to Improve Housing Affordability by Automating Pre-checks & Plan Reviews

Published

6 hours ago

April 6, 2025

The City of Corona has partnered with Blitz Permits, the most widely used Assistive AI platform for local governments in the U.S.

CORONA, Calif., April 6, 2025 /PRNewswire-PRWeb/ — The City of Corona has partnered with Blitz Permits, the most widely used Assistive AI platform for local governments in the U.S. This move will streamline development reviews, reduce permitting delays, and deliver faster service to residents and builders. Across California, permitting backlogs have stalled projects by 12–15 months in some cities—Corona is taking action.

Across California, permitting backlogs have stalled projects by 12–15 months in some cities—Corona is taking action.

Blitz Permits is transforming understaffed Planning and Building departments with the world’s first dual AI engine for plan reviews. By combining pre-check automation with AI-driven code compliance, it slashes review time and increases efficiency. The platform helps governments work faster, smarter, and more cost-effectively, making housing more accessible while strengthening civic resilience.

As Corona experiences rapid growth, the city is leading a nationwide shift towards automation. By embracing AI, Corona is cutting red tape, addressing staffing shortages, and bringing greater speed, accuracy, and transparency to the permitting process.

About Blitz Permits:

Blitz Permits is the leading GovTech provider revolutionizing plan reviews with AI-driven automation. Its proprietary Intelligent Data Dictionary and advanced contextual algorithms deliver unmatched speed, accuracy, and built-in regulatory compliance.

Supporting PDF, CAD, and BIM formats, Blitz Permits integrates seamlessly into government workflows, helping planning, zoning, and building departments cut review times by up to 5x, improve compliance, and fast-track housing and infrastructure development. Learn more at: www.blitzpermits.ai

Media Contact

Brittany Griffin, Blitz Permits Inc., 1 (470) 430-7574, brittanygriffin@blitzpermits.ai, https://www.blitzpermits.ai/

View original content:https://www.prweb.com/releases/city-of-corona-leverages-ai-to-improve-housing-affordability-by-automating-pre-checks–plan-reviews-302421236.html

SOURCE Blitz Permits Inc.